Thursday, 07 February 2019 09:16

Big rise in dairy prices

Written by Rural News Group

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The overnight Global Dairy Trade saw the price index rise 6.7%.

Global dairy prices have seen one of their biggest jumps in recent years.

The overnight Global Dairy Trade (GDT) saw the price index rise 6.7%.

The whole milk powder index rose 8.4% to US$3027/metric tonne, the highest it has reached since May last year.

Key results

AMF index up 5.8%, average price US$5,579/MT

Butter index up 4.2%, average price US$4,445/MT

BMP index down 3.1%, average price US$3,158/MT

Ched index up 1.4%, average price US$3,565/MT

LAC index up 1.3%, average price US$1,035/MT

RenCas index up 10.9%, average price US$5,596/MT

SMP index up 3.9%, average price US$2,534/MT

SWP index not available, average price not available

WMP index up 8.4%, average price US$3,027/MT

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A significant rise in Global Dairy Trade (GDT) auction last week has prompted one bank to lift its forecast milk price for the season to above Fonterra's mid-point.

$10 milk price still on

Whole milk powder prices on Global Dairy Trade (GDT) remains above long run averages and a $10/kgMS milk price for the season remains on the card, says ASB senior economist Chris Tennent-Brown.

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